Rising geriatric population and prevalence
of respiratory diseases owing to increasing air pollution and unhealthy
dilatory habits are some of the key factors driving the demand for medical gases and equipment. On the other hand, the
global scarcity of helium is impeding the growth of the market.
Implementation
of favorable regulations by governments worldwide is augmenting the growth of
the market. The Food and Drug Administration Safety and Innovation Act (FDASIA)
is one of the examples of such regulatory guidelines supporting the market
growth. FDASIA enables withdrawal of drug user fees, approval of medical gasses
for clinical usage, and also offer favorable intellectual protection right for
innovative products.
Oxygen
gas dominated the global medical gases market with a share of more than 44% in
2013. Rising number of patients suffering from respiratory diseases has been
primarily boosting the growth of the oxygen gas among other segments.
Nitrous
oxide accounted for around 25% of global market in 2013. The market share of
the segment is expected to shrink during the forecast period since Increasing
replacement of the gas by anesthetic drugs is expected to result in slow growth
of nitrous oxide over the forecast period.
Medical
pure gas dominated the market with a revenue of USD 1.7 billion in 2013. Rising
prevalence of various respiratory disorders in geriatric population was the key
driving factor for the growth of medical pure gases market.
Access Research Report of Medical Gas Equipment Market@ http://www.grandviewresearch.com/industry-analysis/medical-gas-equipment-market
Medical
gases mixtures are anticipated to grow at a CAGR of 11.1% from 2014 to
2020. Increasing demand for the product in various medical
administrations such as bypass surgery, renal dialysis, sterilization and other
particular conditions are some of the factors responsible for the growth of the
segment.
Vacuum
systems dominated the overall equipment segment market share of more than 30%
in 2013. Extensive research and development followed by constant innovation in
the products are anticipated to widen its application in the respiratory
disease treatment during the forecast period.
Medical
masks are fastest growing medical equipment and is expected to show CAGR of
around 9% from 2014 to 2020. Largest revenue share of the segment was majorly
attributed to low production costs coupled with very high usage rates.
Manifolds, regulators, and outlet are some of the segments that are also expected
to witness significant gains in near future.
North
America contributed to more than 40% of the overall revenue share and was worth
USD 2.48 billion in 2013. The presence of anadvanced healthcare infrastructure,
the high adoption rate for advanced technologies and reimbursement coverage are
some of the factors resulting in the dominance of the region. Europe was the
second largest regional market after North America with a market share of
around 19% in 2013.
Asia
Pacific is anticipated to be the fastest growing market with CAGR of 9.9%
during the forecast period. High air pollution index resulting in a large pool
of target population is expected to propel growth in the region over the
projected period. Moreover, the booming medical tourism industry is projected
to attract global patients to this region. As a result, demand for medical
gases and equipment is anticipated to increase significantly in Asia Pacific.
Growing
M&A, investment in R&D, and product innovations are some of the
strategies implemented by market players to sustain the competition and
maintain their market share. For instance, in May 2014, Medical Gas Solution
introduced the Medi Quick and Medi-1st kits to its product portfolio.
Major
players in the global market include Air Liquide, Linde Gas, Air Products and
Chemicals Inc., Matheson Tri-Gas Inc., and Praxair Inc. In 2013, the market was
dominated by Air Liquide. Efficient distribution channel coupled with broad
product portfolio enabled Linde Gas to capture market share of approximately 18%.
Grand
View Research has segmented the global medical gases and equipment market on
the basis of product and region:
Medical Gases and Equipment Product Outlook
·
Medical
Gases
o Medical Pure Gases
o Medical Air
o Carbon Dioxide
o Oxygen
o Nitrogen
o Nitrous Oxide
o Helium
o Medical Gas Mixtures
o Carbon Dioxide – Oxygen
Mixtures
o Oxygen-Nitrous Oxide
Mixtures
o Ethylene Oxide
o Oxyfume 2000
o Helium Oxygen Mixtures
o Aerobic Mixtures
o Anaerobic Mixtures
o Blood Gas Mixtures
o Laser Gas Mixtures
o Lung Mixtures
·
Medical
Gas Equipment
o Manifolds
o Outlets
o Hose Assemblies and
Valves
o Alarm Systems
o Cylinders and Accessories
o Flowmeters
o Regulators
o Medical Air Compressors
o Vacuum Systems
o Masks
Medical Gases and Equipment Regional
Outlook
·
North
America
·
Europe
·
Asia
Pacific
·
RoW
Access Press Release of Medical Gas Equipment Market@ https://www.grandviewresearch.com/press-release/global-medical-gas-equipment-market
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and headquartered in San Francisco. The company provides syndicated
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reports, and consulting services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
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